Last year, social media giant Facebook changed its corporate name to Meta but kept on using the “FB” ticker symbol which denotes Facebook. The company, now known as Meta, a name that better reflects the company’s ambitions beyond social media and represents the company’s drive into futuristic tech and other businesses that surpass the social media business, is finally letting go of the “FB” ticker as it bids the Facebook era a final goodbye.
The company announced on Thursday that it will be trading under the “META” ticker symbol henceforth.
Facebook was established back in 2004 by billionaire CEO Mark Zuckerberg who at that time was a student with the ambition to create a way for students to meet via the internet. Little did he know that that company would become his life’s work and make him the billionaire he is today.
The company has since grown from a platform that wanted to connect students to a multi-faceted one that envelopes social media and technology. Today, the company is one of the most valued in the world and is worth billions of dollars.
The company’s new dive into the metaverse is one of the reasons for the name change. The metaverse is an online world where people can game, work, and communicate in a virtual environment, often using VR headsets which are parts of what Meta produces.
Commenting on the ticker symbol change, Art Hogan, chief market strategist at National Securities in New York, said that “Companies that change their official name and ticker are usually trying to signal that there has been a fundamental change in the underlying business model. I’m not sure if it really makes much of a big difference. I still call them Google and Facebook.”